Benzinga | Oct 11, 2021 11:14AM EDT

FinVolution Group Early Monday Reported Its Indonesian Financial App, AdaKami, Signed Cooperation Deal With PT Bank Jago

FinVolution Group ("FinVolution," or the "Company") (NYSE:FINV), a leading fintech platform in China, today announced that its Indonesian financial application, AdaKami, signed a strategic cooperation agreement with PT Bank Jago. Bank Jago is a tech-based bank providing life-centric finance application which makes money management simple, collaborative and innovative.

The partnership aims to strengthen collaboration within the digital financial ecosystem, facilitate credit access to support the economy, and accelerate the process of financial inclusion. The alliance also broadens AdaKami's presence across different market segments in Indonesia, including retail, mass market and others.

Mr. Feng Zhang, Chief Executive Officer of FinVolution Group, commented "The partnership with Bank Jago not only increased our financing capacity by 100 billion Rupiah but also enabled us to penetrate into multiple market segments in Indonesia. In line with our objectives, we will proactively lower our products' interest rates as we shift towards better-quality borrowers and further diversify our product offerings. Through extensive channels collaboration, we are well poised to reach a wider user base and increase our market share in Southeast Asia."